Thursday 6 November 2008

Infosys has support at Rs 1220-1230: Mohindar

Rahul Mohindar of Viratechindia is of the view that Infosys Technologies has support at Rs 1220-1230. Below this level, it can slip in three-digit, he added.

Mohindar told CNBC-TV18, "I have been exceptionally bearish on technology stocks. In fact, we have been recommending sell for sometime on these. I still think stocks like Infosys etc, we have got some minor support let us say on Infosys is around Rs 1220-1230 – but if this level really breaks down, we are probably going to even get below the four-digit mark. So I see a severe cut in almost all the IT stocks. So despite the fall we have seen in Wipro or TCS, we have seen quite a rapid intraday correction down today. I still think that’s going to continue and probably this is the sector to stay short in."

Source: Moneycontrol

Posted by Harsh at 07:58

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